Ammtec, Australia’s largest metallurgical and minerals testing consultancy, has announced completion of the first major sale by its subsidiary, Purity Systems Inc (PSI). The contract is with an international environmental technology group and is worth A$1.5 million. It includes the treatment of industrial waste, with the first batch of resin due to be delivered by October 2010. Ammtec has progressively acquired its 72% share of US based PSI and has invested heavily into the company to prove up, advance and market the technology, which extracts heavy metals from solutions.
Ammtec Executive Director, Ron Grogan, said the first major sale of this technology was significant in terms of driving revenues and profitability. “The contract comes directly off the back of our strategic business development plan to increase our marketing efforts to boost PSI’s commercial prospects – particularly in the treatment of industrial waste streams from existing plants and environmental remediation, said Mr Grogan.
“We will use this significant contract as a platform to continue our growth of this highly prospective business.” Ammtec forecasts that the PSI business will be cost neutral in FY11 and profitable thereafter, with an ongoing focus on marketing and business development.